That would certainly fall into the "anything can happen in baseball" file. Here's how it could happen.
Toronto took Olivo and turned down his $2.5 million option for 2011, thus making him a free agent. The Jays made themselves eligible for a supplemental-round pick in the next First-Year Player Draft should Olivo decline an arbitration offer and sign with another club.
On the open market, there is a chance Olivo might end up the best fit for the Rockies. There's nothing to stop the team and player from reaching that conclusion.
The Rockies, like Olivo, will be looking at various options through trades and free agency. But if there's a match, there's no reason the Rockies can't head into 2011 with Olivo as part of the catching plan.
Of course, the scenario of Olivo being available to the Rockies might not play out. If the Jays offer Olivo arbitration, he has the right to accept it and officially become a member of the Jays with his salary being set through the arbitration process. But that's not expected. The Jays don't have a role for Olivo, plus they paid his $500,000 buyout for the contract he signed with the Rockies.
Why would the Jays make the deal? Draft picks are the key for general manager Alex Anthopoulos. It would increase his total of Draft picks in the top 50 to a whopping eight.
In the end, the Jays will have another shot at building depth or finding a star, and the Rockies could keep a catcher.
And would it be beyond the realm of possibility that the Rockies could accept cash considerations from the Jays? The money could be used to offset the cost of replacing Olivo with ... Olivo.
Thomas Harding is a reporter for MLB.com. Read his blog, Hardball in the Rockies, and follow him on Twitter @harding_at_mlb. This story was not subject to the approval of Major League Baseball or its clubs.